ILFC

Chinese group to pay $4.2 billion for AIG aircraft leasing unit

AIG has agreed to sell 80.1% of ILFC, its aircraft leasing business, to a group of Chinese investors led by New China Trust.
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Constellation Place, ILFC's Los Angeles HQ
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<div style="text-align: left;"> Constellation Place, ILFC's Los Angeles HQ </div>

A Chinese consortium led by New China Trust has agreed to buy the aircraft leasing business of American International Group AIG. It will pay $4.23 billion for an 80.1% stake in International Lease Finance Corp ILFC, which will be the largest ever acquisition of a US company by a Chinese firm.

It exceeds the previous biggest Chinese purchase of a stake in a US firm, the $3 billion paid for Blackstone by China Investment Corp in 2007. The announcement closely followed the Canadian authorities’ approval on Friday of Cnooc’s $15.1 billion acquisition of domestic oil and gas producer Nexen.

“It is a landmark deal...

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